Australia expresses keenness in exploring investment opportunities in Sri Lanka

Australia has expressed keenness in exploring investment opportunities in Sri Lanka, which could help fast-track foreign direct investment to the island nation.

Australian High Commissioner to Sri Lanka Paul Stephens shared that the Australian companies are increasingly interested in venturing into Sri Lanka, especially in its mining, renewable energy and agriculture sector.

He made his comments while addressing a meeting at the Ceylon Chamber of Commerce, recently. According to Stephens, many companies are currently at various stages of the investment process and facilitating such investment would encourage more interest in Sri Lanka as a viable investment destination.

Responding to the Stephens’ suggestions, Ceylon Chamber of Commerce Chairman Vish Govindasamy highlighted several of the Ceylon Chamber’s trade facilitation and promotion initiatives. These include the 19 dedicated business councils of the chamber, representing 34 countries that promote and facilitate cross-border trade and investment, including organising bilateral trade delegations, signing memoranda of understanding with chambers of commerce and industry across the globe, including in Australia and business matchmaking and linkage services.

In addition, the Ceylon Chamber also works closely with trade and investment-related government institutions to contribute towards an investor-friendly environment.

Expressing appreciation for and committing to work towards enhancing the positive trade relationship between Australia and Sri Lanka, Govindasamy went on to thank the government and the people of Australia for the continuous support shown towards Sri Lanka, as it looks to brave through the ongoing economic challenges.